Two Sigma Securities LLC Invests $1.64 Million in SEI Investments Company $SEIC

Key Points

• Two Sigma Securities initiated a $1.64 million position in SEI Investments during the second quarter, while institutional investors collectively owned 70.59% of the company.
• Analyst sentiment remains favorable, with six Buy ratings and one Hold; the stock has an average “Moderate Buy” rating and a consensus price target of $122.60.
• SEI Investments exceeded quarterly expectations, reporting $1.66 in EPS versus $1.44 expected and revenue of $641.62 million, up 14.7% year over year. However, company insiders sold 142,332 shares worth approximately $13.75 million during the quarter.

Two Sigma Securities LLC bought a new stake in SEI Investments Company (NASDAQ:SEIC - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 18,722 shares of the asset manager's stock, valued at approximately $1,642,000.

Several other hedge funds also recently modified their holdings of SEIC. BlackRock Inc. purchased a new stake in SEI Investments in the 2nd quarter valued at $870,745,000. Bank of America Corp DE purchased a new position in SEI Investments during the 2nd quarter worth $255,067,000. Caisse de depot et placement du Quebec purchased a new position in SEI Investments during the 2nd quarter worth $87,924,000. Bank of New York Mellon Corp bought a new stake in shares of SEI Investments in the 2nd quarter worth $78,430,000. Finally, American Capital Management Inc. bought a new stake in shares of SEI Investments in the 2nd quarter worth $65,372,000. Hedge funds and other institutional investors own 70.59% of the company's stock.

Wall Street Analysts Forecast Growth

SEIC has been the topic of a number of recent analyst reports. Weiss Ratings reissued a "buy (b)" rating on shares of SEI Investments in a research report on Friday, July 17th. Zacks Research lowered shares of SEI Investments from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 21st. Morgan Stanley lifted their target price on shares of SEI Investments from $115.00 to $125.00 and gave the stock an "overweight" rating in a research report on Thursday, July 23rd. Keefe, Bruyette & Woods boosted their target price on SEI Investments from $113.00 to $119.00 and gave the stock an "outperform" rating in a research note on Thursday, July 23rd. Finally, Raymond James Financial upped their target price on SEI Investments from $122.00 to $124.00 and gave the company an "outperform" rating in a report on Monday, July 6th. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $122.60.

SEI Investments Price Performance

SEIC opened at $111.63 on Monday. SEI Investments Company has a twelve month low of $75.08 and a twelve month high of $112.15. The company's 50-day moving average price is $100.09 and its two-hundred day moving average price is $89.70. The stock has a market cap of $13.40 billion, a price-to-earnings ratio of 19.69 and a beta of 0.96. The company has a quick ratio of 4.96, a current ratio of 5.06 and a debt-to-equity ratio of 0.06.

SEI Investments (NASDAQ:SEIC - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The asset manager reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.22. The company had revenue of $641.62 million during the quarter, compared to analyst estimates of $636.35 million. SEI Investments had a net margin of 28.85% and a return on equity of 29.16%. SEI Investments's quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.78 EPS. As a group, equities analysts expect that SEI Investments Company will post 6.2 earnings per share for the current year.

Insider Buying and Selling at SEI Investments

In other SEI Investments news, insider Sanjay Sharma sold 20,000 shares of the firm's stock in a transaction on Friday, July 24th. The stock was sold at an average price of $99.33, for a total value of $1,986,600.00. Following the completion of the sale, the insider directly owned 39,829 shares of the company's stock, valued at $3,956,214.57. This trade represents a 33.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Mark Andrew Warner sold 15,000 shares of the business's stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $102.35, for a total value of $1,535,250.00. Following the completion of the sale, the insider owned 921 shares in the company, valued at approximately $94,264.35. The trade was a 94.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 142,332 shares of company stock valued at $13,745,813 in the last quarter. Insiders own 4.80% of the company's stock.

About SEI Investments

SEI Investments Company is a global provider of asset management, investment processing, and investment operations solutions. The firm offers a range of services designed to help financial institutions, private banks, wealth managers and family offices streamline back-office functions and enhance front-office capabilities. SEI's technology platforms support various stages of the investment lifecycle, including trade execution, performance reporting, risk analytics and client communications.

The company's core offerings include outsourced fund administration, custody and trust services, managed account solutions, and wealth management technology.

Want to see what other hedge funds are holding SEIC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SEI Investments Company (NASDAQ:SEIC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source